Financial Performance - For the three months ended June 30, 2024, the company reported a net income of $2,212,536, primarily from interest earned on marketable securities held in the Trust Account of $2,442,279[66] - For the six months ended June 30, 2024, the company had a net income of $3,312,978, with interest income from marketable securities amounting to $3,648,794[66] - As of June 30, 2024, the company held marketable securities in the Trust Account valued at $187,648,794, including approximately $3,648,794 of interest income[70] Initial Public Offering - The company completed its Initial Public Offering on February 13, 2024, raising gross proceeds of $184,000,000 from the sale of 18,400,000 Class A ordinary shares[67] - The company incurred $8,180,834 in costs related to the Initial Public Offering, which included a $1,840,000 upfront cash underwriting fee and a $5,520,000 deferred underwriting fee[69] - The total net proceeds from the Initial Public Offering and private placement amounted to $186,496,493, with $184,000,000 placed in the Trust Account[85] - The underwriting fees deducted from the total proceeds exclude a deferred portion of $5,520,000, payable upon the consummation of the initial Business Combination[85] Cash Flow and Financing - Cash used in operating activities for the six months ended June 30, 2024, was $647,098, with no cash flows from operating activities reported for the same period in 2023[69] - The company has no long-term debt or off-balance sheet arrangements as of June 30, 2024[74] - The company may need additional financing to complete its Business Combination or to cover redemptions of Public Shares[73] Business Combination - The company intends to use substantially all funds in the Trust Account to complete its initial Business Combination[70] - The company has 24 months from the Initial Public Offering to complete its initial Business Combination[73] Compliance and Reporting - There were no defaults upon senior securities reported[86] - No mine safety disclosures were made in the report[86] - The report includes various exhibits related to agreements and certifications, but no specific financial performance metrics were disclosed[87] - The report was signed by the Chairperson and Chief Executive Officer, Bihua Chen, and the Chief Financial Officer, Caleb Tripp, on August 14, 2024[91]
Helix Acquisition(HLXB) - 2024 Q2 - Quarterly Report